Uniswap (UNI) is 62545.9× the size of DeltaPrime (PRIME) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.14 across 33 shared trading days). PRIME has been the more volatile of the two, at 180% annualised against UNI's 101%.
PRIMEUNI
-0.14over 33 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | PRIME | UNI |
|---|---|---|
| Max drawdown (400d) | -67.5% | -74.4% |
| Risk-adjusted return (90d) | -0.35 | 0.83 |
| Best 30 days (past year) | — | +143.9% |
| Worst 30 days (past year) | — | -47.8% |
Relative strength over 90 days: UNI outperformed PRIME by 56.5% — measured on the PRIME/UNI ratio, so it holds regardless of market direction.